SEC set to release rules on Green Bonds — Uduk

Securities and Exchange Commission (SEC) said it will soon issue guidelines that will facilitate the smooth issuance and operation of Green Bonds in Nigeria.

This is coming after the Federal Government raised over N10 billion in its maiden Green Bond programme in 2017 to fund environmental friendly projects.

Acting Director General of SEC, Ms Mary Uduk, speaking at the launch of Nigerian Green Bond Market Development Programme by FMDQ OTC Securities Exchange, said the commission was also building internal capacity ahead of the take-off of the market to reduce the turnaround time.

She stated: “We cannot do anything without structures in place. So, SEC is trying to put up the necessary structures that will be needed for the other interested stakeholders to issue Green Bonds.

Also speaking, Director-General of DMO, Ms. Patience Oniha, who was represented by Dele Afolabi, Director, Portfolio Management, revealed that the debt office had commenced the process of issuing the second round of Green Bonds in the fourth quarter of the year.

Meanwhile, Debt Management Office, DMO, said it was planning to issue another Federal Government Green Bond in the fourth quarter of the year.

Credit: Vanguard